FX.co ★ Switzerland Consumer Confidence Falls to Lowest Since 2023

Switzerland’s consumer sentiment index dropped sharply to -43 in March 2026, its lowest reading since December 2023. This compares with -30 in each of the previous two months and was far weaker than market expectations of -32. The downturn likely reflects the impact of the war with Iran and the accompanying surge in oil prices, which dampened household confidence and triggered a broad-based decline in sentiment. All major components deteriorated: assessments of the past economic situation fell to -62 (from -52), the economic outlook slumped to -68 (from -31), the financial outlook weakened to -32 (from -26), and views on whether it is a good time to make major purchases slipped to -58 (from -55). At the same time, inflation expectations rose markedly, with consumers now anticipating significantly higher prices over the next 12 months (121.4 vs 98.3), while expectations for unemployment also increased (69 vs 64).